DTN Closing Livestock Comment 10/23 16:24
Cattle Futures Close Lower Thanks to Long Liquidation, Lackluster Buying
Interest by Packers
Live and feeder issues rolled back from Monday's advance, waiting for
evidence of greater packer spending and stronger beef demand. On the other
hand, lean hog futures moderately built on Monday's forward progress.
By John Harrington
DTN Livestock Analyst
The feedlot cash cattle trade was not tested through the day with just a few
starter bids noted in parts of the North at $174. According to the closing
report, the national hog base is delayed due to packer submission problems. The
corn trade closed about a penny higher thanks to a general lack of selling
interest. The stock market closed lower with the Dow off 125 points and the
Nasdaq down by 31.
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